The U.S. Department of Agriculture (USDA) forecast last week that corn production in the U.S. will be 5% lower this year compared to 2021, while soybean production will be up 2%, according to the agency's crop production report issued Aug. 12.

The gains in soybean bushels come from a slight bump-up in both the harvested acres, expected at 87.2 million nationally, and average U.S. yield, now set at 51.9 bushels per acre. In all, U.S....